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1. What is the latest mandatory auto insurance premium?
Currently, the compulsory civil liability insurance premium for each type of car is being applied according to Appendix I of Decree 67/2023/ND-CP as follows:
TT | Vehicle type | Insurance premium (VND) |
I | Non-commercial vehicles | |
1 | Vehicle type under 6 seats | 437,000 |
2 | Vehicle type from 6 to 11 seats | 794,000 |
3 | Vehicle type from 12 to 24 seats | 1,270,000 |
4 | Vehicle type over 24 seats | 1,825,000 |
5 | Vehicles that can carry both people and goods (Pickup, minivan) | 437,000 |
II | Car for transport business | |
1 | Under 6 seats by registration | 756,000 |
2 | 6 seats by registration | 929,000 |
3 | 7 seats by registration | 1,080,000 |
4 | 8 seats by registration | 1,253,000 |
5 | 9 seats by registration | 1,404,000 |
6 | 10 seats by registration | 1,512,000 |
7 | 11 seats by registration | 1,656,000 |
8 | 12 seats by registration | 1,822,000 |
9 | 13 seats by registration | 2,049,000 |
10 | 14 seats by registration | 2,221,000 |
11 | 15 seats by registration | 2,394,000 |
12 | 16 seats by registration | 3,054,000 |
13 | 17 seats by registration | 2,718,000 |
14 | 18 seats by registration | 2,869,000 |
15 | 19 seats by registration | 3,041,000 |
16 | 20 seats by registration | 3,191,000 |
17 | 21 seats by registration | 3,364,000 |
18 | 22 seats by registration | 3,515,000 |
19 | 23 seats by registration | 3,688,000 |
20 | 24 seats by registration | 4,632,000 |
21 | 25 seats by registration | 4,813,000 |
22 | Over 25 seats | [4,813,000 + 30,000 x (number of seats - 25 seats)] |
23 | Vehicles that can carry both people and goods (Pickup, minivan) | 933,000 |
III | Cargo truck (truck) | |
1 | Under 3 tons | 853,000 |
2 | From 3 to 8 tons | 1,660,000 |
3 | Over 8 to 15 tons | 2,746,000 |
4 | Over 15 tons | 3,200,000 |
IV | Driving practice car | 120% of the same type of vehicle fee |
V | Taxi | 170% of business vehicle fee with same number of seats |
VI | Special purpose vehicle | |
1 | Ambulance | 1,119,000 |
2 | Other specialized vehicles with specified design load | 120% of the insurance premium of the same tonnage cargo vehicle |
3 | Other specialized vehicles with no specified design load | 1,023,600 |
VII | Tractor trailer | 4,800,000 |
VIII | Bus | Calculated based on insurance premium of non-commercial vehicles with same seats |
Note: Based on the insurance claim history of each car or the accident history of the car owner, the insurance company can proactively consider and adjust the insurance price up or down.
The maximum increase or decrease in insurance premiums is 15% calculated on the above auto insurance price.
2. Is there a penalty for not purchasing mandatory auto insurance?
According to point d, clause 2, Article 58 of the 2008 Road Traffic Law, one of the conditions for drivers to participate in traffic is to have a certificate of civil liability insurance for motor vehicle owners.
If the vehicle owner does not purchase compulsory auto insurance when driving a vehicle, he/she will be fined for traffic violations according to the provisions of Article 21 of Decree 100/2019/ND-CP (amended by Decree 123/2021/ND-CP) for not having or not carrying a valid Certificate of Civil Liability Insurance of the Motor Vehicle Owner, with a fine of VND 400,000 to VND 600,000.
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